An insurance giant has officially moved 500 staff into a new office in the heart of Middlesbrough. A ribbon-cutting ceremony with Middlesbrough Mayor Chris Cooke marked AXA UK moving into Six Centre Square, taking up more than half the space in the 40,000 sq ft building. FINAL DAY: £6 for 6 months for a premium plus digital subscription The keys for the cutting-edge Grade A office space, built by developer Ashall Projects, were handed over to the Tees Valley Combined Authority in February. The TVCA has put £9.7million into the four-storey block while Middlesbrough Council contributed £2million of its £21.9million Towns Fund allocation from Central Government. Tees Valley Mayor Ben Houchen said: “Companies with ambition to grow or break new ground are now choosing Teesside as they’re sitting up and seeing the facilities we have to offer. It shows businesses they can do it here and don’t have to go to a city like Newcastle , Leeds or Manchester. “Given all our success in bringing major Government departments and thousands of civil service jobs to Darlington, our investment in Six Centre Square made perfect sense and ensured a major employer stayed in the heart of Middlesbrough. Anna Fleming, Chief Operating Officer at AXA UK Retail Insurance, and Middlesbrough Mayor Chris Cooke outside Six Centre Square (Image: Press release) “Right across Teesside, Darlington and Hartlepool we’re opening the door to allow our younger people to forge paths to careers on our doorstep. "Creating world-class offices like this is key to unlocking that vision and our Development Corporation in the town will play a vital role in fostering an environment where companies can thrive.” Middlesbrough Mayor Chris Cooke, who is also a member of the Tees Valley Combined Authority Cabinet, added: “Centre Square has become a focal point for business on Teesside, and I’m delighted that companies like AXA recognise its long-term potential. “The town centre is Middlesbrough’s engine room, and developments like this are helping to drive prosperity and create high quality skilled jobs for local people.” Read next: Transport Secretary's praise after visit to Cummins at Darlington Government's exports champion is VIP guest at Echo's Level Up event ​ How are North East businesses handling huge tech advances like AI? Anna Fleming, Chief Operating Officer at AXA UK Retail Insurance, said: “Relocating to Six Centre Square offers a range of benefits for our business and our people. Employees can enjoy an enhanced working environment with greater flexibility and a range of wellbeing solutions while AXA can be proud to occupy a building which leads the way in energy efficiency and sustainability. “The move shows our continued support and commitment to Middlesbrough and its ongoing regeneration.” The vision for Centre Square is taking shape Six Centre Square is the newest phase in the wider Centre Square scheme led by Ashall Projects which has already seen six companies employing more than 1,000 people move into the first two buildings in the development. Ashall Projects Managing Director Mark Ashall is confident the remaining space in Six Centre Square will soon be taken. He said: “There is a great deal of interest and that is a reflection on both the standard of the building and the increased business activity taking place at Teesworks and throughout the Tees Valley. “Employers are looking for high quality office space in central locations where there is good access to transport and amenities. This helps them attract and retain staff and that’s what Centre Square is delivering.”